Investments are Flooding into Denver’s Flourishing Tech Scene

It’s no secret that the Denver area has a robust IT scene, earning it the nickname Silicon Mountain, but what you might not realize is the extent of capital flowing into the area and innovative ideas quite literally taking off from their Denver roots. In February 2023 alone, five technology companies raised a combined $175.2 million in funding rounds, which is surprisingly down a tick from January 2023 which saw $179.2 in its five largest technology funding rounds, according to Built in Colorado. What types of companies are flourishing? Everything from aerospace to cryptocurrency. Here’s a peek at some of the latest innovators:
Voyager Space
This space solutions provider founded in 2019 has received funding from NASA to replace the International Space Station with a private space station in partnership with Nanoracks. The $80.2 million they just received will help fuel that project – dubbed Starlab – as they work with other innovators to create the foundation for a profitable and sustainable space ecosystem. Starlab will be the first continuously crewed, free-flying commercial space station to serve NASA and space agencies around the globe.
A little closer to the ground – but just barely – PteroDynamics received $7.5 million in seed funding to design larger versions of its vertical take-off and landing (VTOL) aircraft. Its Transwing® aircraft folds and unfolds its wings during flight to transition between rotor wing and fixed wing configurations. As a result, Transwing aircraft have a smaller ground footprint while being able to fly farther, faster, longer, and/or carry heavier payloads than other similarly sized VTOL aircraft. The company has secured an Other Transaction Authority contract with the U.S. Navy’s Naval Air Warfare Center Aircraft Division to supply three Transwing aircraft for its Blue Water Maritime Logistics UAS program.
SALT Blockchain Inc. is a blockchain startup that raised $64.4 million to develop new products. It is a pioneer of crypto-backed loans and will use the conversion of debt to launch a new business growth plan. Given the instability in financial markets as of late, it might be the ideal time to explore innovations like this.
Strata Identity
Benefitting from a $26 million series B round of funding in January, Strata is scaling its cloud-based identity systems for companies of varying sizes. Its Maverics Identity Orchestration software integrates all of an organization’s identity systems — both cloud and on-premises— into a common abstraction layer its calls an identity fabric. This single layer enables previously incompatible identity systems to work together seamlessly, which is fantastic news for IT professionals dealing with legacy technology.

Conferences Breaking New Ground

While Denver IT businesses are raising cash, a steady stream of technology conferences coming into the Denver area in 2023 are heightening expectations for what’s coming next in IT.

TECHSPO Denver 2023 Technology Expo will be held May 4-5 at the Sheraton Denver Downtown hotel. This conference will showcase the latest in Internet, mobile, AdTech, MarTech & SaaS technology and also encompasses the DigiMarCon Rocky Mountains Digital Marketing, Media, and Advertising Conference.

For IT professionals working in or interested in the nonprofit sector, 23NTC will be April 12-14. NTEN’s conference is the annual gathering of people who want to make the world a better place through the skillful and equitable use of technology. They’ll discuss nonprofit technology best practices while connecting participants with a community that shares a commitment to social change.

The Women Impact Tech conference is coming to Denver on July 11. The organizers hope to build a community for collaboration, professional growth, and belonging that will inspire, educate, empower, and advance women in technology.

No matter what industry your Denver area or Colorado organization is focused on, technology will soon be the lifeblood that drives it into the future. When you need a managed IT services Denver firm that is reliable and responsive, reach out to Executech in Westminster. With more than 20+ years of experience, we can give your business the IT support and infrastructure it needs with a personalized, custom approach and predictable pricing that fits your needs and your budget.

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